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Jim Cramer Weighs In On The CBS-Viacom Merger

Credit: The Street
Published on November 12, 2019 - Duration: 00:27s

Jim Cramer Weighs In On The CBS-Viacom Merger

CBS reported adjusted earnings for the three months ending in September came in at 95 cents per share, down 23.4% from the same period last year but 3 cents ahead of the Street consensus forecast.

Group revenues, CBS said, rose modestly from last year to $3.3 billion, just shy of analysts' estimates of a $3.58 billion tally.

"We delivered record third-quarter revenues as we continue to increase our investment in our premium content and direct-to-consumer streaming services, which is the cornerstone of our growth strategy," said acting CEO Joe Ianniello.

"During the quarter, our direct-to-consumer revenue from CBS All Access and Showtime OTT grew 39% from last year, driven by a strong slate of original programming." Watch the full video above for Cramer's take.

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